Prestige Finance, part of OneSavings Bank, has simplified its mortgage range by creating one Prime range for loans up to £2.5 million.
The second charge mortgage specialist and has also introduced a new five-year fixed range which will replace its three-year fix.
Reduced rates will available with an interest rate of 4.45% on a 65% loan-to-value.
The Prime product range will be available up to £2.5 million (up to 75% LTV) or £200,000 (up to 85% LTV).
The loan size referral threshold has also increased from £100,000 to £200,000.
Darrell Walker from OneSavings Bank said: “We’re constantly seeking to enhance our lending proposition so brokers can have confidence in recommending our second charge mortgages to their clients.
“We have an appetite to write both prime and large loan business which is evidenced by the simplified pricing we have announced, together with the increase in proc fees for larger loans. The competitive five-year fixed range with affordability stressed at pay rate comes in direct response to the changing needs of our customers.”
